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Technology Stocks : Simple Technology - STEC
STEC 1.590+65.6%Dec 23 3:59 PM EST
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To: Rudy who started this subject3/16/2002 12:40:45 PM
From: Rudy   of 36
 
I added 20% position at 7.40. I hope this will prove correct. A large hand seems like still unloading. However it seems like there were large orders on buy side as well. Just not as much as to balance the sells so far. We are testing the levels I thought we would. Absolute lowest test must be around 6.5. Beyond that the trend may be broken. Believing that it would not.

From 5.82 to 8.94 it raised 54%
From 8.94 to 7.16 it fell 20%
Overall 23% appreciation

in 10 trading days!!! Rise from 5.82 to 8.94 was so missile like this that kind of pullback is very normal. I hope last minute jumpers to train did not get hurt. I had been trying to warn about a pullback for some time. Never chase a stock up or down.

Last 10 days upday volume is 2,233K downday volume is 1,548K. Average daily vol. of 348K. At least noone can complain about the liquidity. I have seen stocks that made you sweat to get out. Some scams had similar rises on high volume but very quick falls on low volume. Market makers kill the liquidity and pull the chair under the stock. That makes people sweat a lot. That kind of scams are played on individually traded stocks. They pump the stock everywhere and dump it later. STEC had big money buying and selling. It provides liquidity.

Now we are within the predicted range, 6.5-8. Our pup is taking a breather after being punished of breaking the upper edge of the channel.

Besides today's high volume everything else is still intact with the trend. I say this is a little warning to watch the following days closely. My guess is that it will rise Monday on above average volume or play around 7 on low volume.

Good luck guys.

Rudy.

PS: Congrats to any longs who were able to sell and pick up again at lower. I could only add more at lower level. I am riding it out.
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